You have to deal with the same spreads when you sign up with the MAM account. It’s the fact that you will have to give 50% of whatever profits you make on your account back to the broker. Yes, there is no denying that the broker will be trading on your behalf in this particular account.
There are seriously no advantages you will get from trading with BitXTrade.
Do not trade with unregulated brokers that will steal your funds – try these regulated brokers:
The broker also provides a registration number from the UK’s official register of businesses, the Companies House. Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes. We wouldn’t recommend using this forex brokerage, they donot impress us with the vague information they have provided. Deposit and withdrawals are the two most importanttransactions for us because the end goal of trading is making a profit.
- So, when you have these sudden spots on the website where you can take glimpses of Chinese, you can’t wrap your head around the whole thing.
- The broker needs a lot of improvement to become an international-level broker.
- Read through our Yeti EA Review to compare and contrast the services they offer.
- We wouldn’t recommend using this forex brokerage, they donot impress us with the vague information they have provided.
- If you go with the standard account, you do not pay any commission and your spreads can be as low as 1pip (that’s not low by the way).
We check the account with its corresponding depositand leverage. This is the reason why we advise all traders to first carry out a background check on any broker they wish to contract with – before they invest in them. First, to be able to offer financial services in the UK, a company needs to be registered with the FCA (Financial Conduct Authority).
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More and more new brokers are realizing that a web trader solves a lot of their and traders’ problems. For example, you do not have to offer six different trading platforms to your traders when you have a web trader. At the same time, your trader can use the same trading platform on just about any device and from anywhere in the world when he/she has access to a web based trading platform. In addition to that, based on how big the broker claims to be, you would expect it to offer its own trading platform. Trading with them would likely result in you losing yourmoney. There is a tremendous risk on any transactions interested traders mayconclude with the brokerage and we deeply recommend they look elsewhere forviable trading option.
If the broker is not serious with what it is doing, how can it provide you with serious and professional trading services? When you land on the website of this broker, you notice a lot of issues. First of all, you can see that the broker has a strong connection with China. However, the website has been translated in English and most of the features of the broker are directed towards traders from other parts of the world.
BitXTrade Deposit and Withdrawal Methods
Licensing is another important part because we can trust aregulated broker to some extent not to do anything fraudulent. Another thing to keep in mind is that there might also bewithdrawal conditions concerning accounts that take advantage of the bonuspromotion. Some fraudulent brokers stipulate that a trader must achieve acertain trading volume to be eligible for withdrawal. BitXTrade might be doing a lot of things right in other areas, but the aspects that we have stated above show its weaknesses. The broker needs a lot of improvement to become an international-level broker.
BitXTrade Account Types
- You can also read our reviews on fxalg EA, FxPriemere, and Forex real profit.
- There are seriously no advantages you will get from trading with BitXTrade.
- BitXTrade offers its clients 4 different types of trading accounts – the Starter Plan, the Premium Plan, the Delux Plan, and the Exclusive Plan.
- It’s the fact that you will have to give 50% of whatever profits you make on your account back to the broker.
- In checking the license status of this broker, we had tocheck several regulatory bodies.
Therefore, if you do register with this broker, you are basically agreeing to any conditions that they have placed – without knowing what they are. While we were doing research about this company’s registration and regulation status, we dug up some even more disturbing information about this broker. We do not advise you to send any funds to them as transactions with bitcoin are hard if not impossible to trace or reverse.
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Read through our Yeti EA Review to compare and contrast the services they offer. You can also read our reviews on fxalg EA, FxPriemere, and Forex real profit. Traders should check regulatory bodies such as the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others. This is a tactic that is adopted by serial scammers who try to rake in as many deposits as they can before the scam is noticed. After this, they launch a new domain address and start the process all over again. At the same time, the company also states that it is incorporated in the UK – and presents us with a certificate to prove it.
But why does the broker have to take money from you in two different forms? Why do you have to give money to the broker in the form of spreads as well? These differences in accounts types from the broker can be startling for some.
You get trading bots so that you can carry out automated trading. You also get market indicators and charting tools to analyze the market trends better. If you trade with BitXTrade, then the only way you can make deposits bitxtrade and withdrawals is through Bitcoin. The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders. However, creating a trading platform is not an easy affair. The broker has to spend hundreds of thousands of dollars to get the perfect trading platform that suits its target audience.
When we opened a new account with this broker to check the trading conditions and the type of platform, we found out that there was no platform. In its place was a rudimentary dashboard where the only thing you could do was make deposits in Bitcoin. In this portion of the review, we aim to explore the accounttypes a broker might have.
So, when you have these sudden spots on the website where you can take glimpses of Chinese, you can’t wrap your head around the whole thing. When you sign up with an online broker, you are putting your trust in it. You know that the broker will take care of your account, money, and information while you busy yourself in learning how to trade. However, if the broker you are signing up with does not sound, look, and feel professional, you might not be at peace while signing up with it at all.
At times, when you look at the account types on the website, you feel as though you are looking at different account types from different brokers on the internet. Well, that’s because there is such a huge difference between what you get with those accounts. At other times, you feel as though the broker is trying to rip off the trader. If you go with the standard account, you do not pay any commission and your spreads can be as low as 1pip (that’s not low by the way).
